city of boulder division of housing
TRANSCRIPT
City of Boulder Planning, Housing and SustainabilityDivision of Housing Kurt Firnhaber
What we do
Planning, Housing and SustainabilityWe collaborate with our community and
colleagues to create a sustainable, resilient, and inclusive community, worthy
of its setting where we can all thrive together.
HousingPartner to create housing opportunities and
shape community
City Affordable Housing Goals The city’s goal is to ensure that at least 10%
of homes in the city are affordable to low- and moderate-income households.
Of those, the goal is to have 450 - middle income households
Community benefit package40-60% of new housing permanently
affordableLow/mod & middle incomeGenerally meet IH requirements
Annexation – Community Benefit
On-site affordable units
Off-site affordable units New construction Deed restrict existing
unitsCash-in-lieu Donate land
Inclusionary HousingOptions for 20%
Location Approval
Equal or better
Sites differentQuality
Off-site
1 Detached market unit (20% of an affordable unit) $28,216
Larger Projects:(Per required affordable unit - 5 market units) Attached - $139,963 Detached - $179,971
Amounts are adjusted down for smaller units & for developments with 4 or fewer units
Cash-in-lieu
Local• Affordable Housing Funds• Community Housing Assistance Program• Commercial Linkage Fees
Federal• CDBG (housing and community
development) • HOME (Consortium rotation)
Funding Sources
Affordable Housing and Community Development Fund Rounds Annual ▪ RFP released in May▪ Approved in November▪ Funds available early following year
Opportunity Funding Request Rolling Time Sensitive
Reviewed and recommended by Technical Review Group (TRG) Presented to City Manager for Approval
Funding Processes
Protect the home as a community asset Covenant, Promissory Note, Deed of Trust Compliance (rental, owner occupancy) Resale to income-eligible buyers
Maintain rights of program owners as closely as possible to those of market rate owners , while balancing community interests Appreciation Value of improvements Ability to rent (Limited)
Provide additional opportunities to owners Solar Grants program Rehab, repair programs Homeowner education referrals List of Realtors willing to work for 1.25% commission on affordable home transactions Pre-certified buyers when owners are ready to sell their homes
Owning a Home
Middle Income Housing Working Group
Draft Middle Income Housing StrategyAugust 16, 2016
Middle income jobs include: accountants, architects, librarians, veterinarians,
and web developers.
Who is the middle market?
1-person households earning $53,000-$104,000
3-person households earning $68,000-$134,000
80-150% of Boulder Area Median Income (AMI)
PEOPLE
Detached housing is no longer affordable to middle income households
$650,000
$331,750 $284,500
$439,950
$574,525
$291,863
$865,748
$348,450$286,000
$450,500
≤ 2,000 SQFT Homes
Median Home Price (2015)
MARKET
DRAFT Goal Recommendation
Goal: Build or preserve 3,500 middle income homes by 2030
Sub Goals: 1,000 of the units are deed
restricted 2,500 of the units are market rate
A 7% Goal
1989
2011 - 2013
2030
43%
37%
7%
Low to Moderate Middle
Steady
Down 6%
Up 6%
In 2030, 3,500 new
and preserved
middle income units
would represent 7% of the city’s
housing stock.
3,500 new and existing units would help achieve
the city’s goal:
Maintain the Middle
RECENT TRENDS:
4 Key Tools
1. Land Use & Policy: Provide recommendations for BVCP update (changes to policies and land use designations, including MI housing types and barriers to moderately-sized units).
2. Community Benefit/ Incentive-Based Zoning: Adopt policies and outline regulations for requiring additional middle-income housing in exchange for additional development potential.
3. Inclusionary Housing: Amend Inclusionary Housing (IH) regulations to include middle income housing.
4. Additional Community Benefit (Annexation): Increase middle income community benefit for annexations.